Bam! Manhattan Beach Real Estate Inventory Jumps 20 Percent in One Week
May 25, 2020 09:00AM
By DigMB Staff
Source: MB Confidential/Dave Fratello of Edge Real Estate Agency
Is Manhattan Beach real estate finally edging out of the COVID-19 shutdown? That's what local home sellers seem to be thinking, as real estate inventory in Manhattan Beach shot up by 20 percent last week.
In just seven days, 28 Manhattan Beach listings joined the "active" column, according to local real estate blog Manhattan Beach Confidential.
Of those 28 listings, 21 were newly active, one fell out of escrow and six moved from a "hold" status to "active," rejoining the list of publicly visible listings after some time off.
The 28 listings together make up 20% of the current inventory of 142 homes (comprised of 123 active listings and 19 on hold).
An additional 7 listings are "coming soon" using a new MLS system that is not visible to the public.
These new listings point to signs that home buyers and sellers are ready to get back in action, said MB Confidential author Dave Fratello, broker at Edge Real Estate Agency.
"The number of new escrows in this past week was only 6, obviously lagging the new influx of supply, but let's give the market some time to do its work," he said.
Manhattan Beach Confidential
MB Confidential is a comprehensive, data-driven website that is updated minute-by-minute with the latest Manhattan Beach real estate news and information.
MB Confidential's various data collections run back as far as 13 years, to 2007, when the blog first started publication.
To see MB Confidential's full market wrap-up for April, click here.
To view MB Confidential's popular "MB Dashboard" (with new listings, new escrows, closed sales, and price cuts), click here.
To speak to MB Confidential's Dave Fratello, email email@example.com or call 310-243-6299.